Manoj Kohli
KF Expert
Bank of Baroda is one of the Oldest Banks of India with almost 10,000 Branches. In this post we will be discussing various modes of making a payment
Broadly there are 3 ways in which you can make electronic payment in Bank of Baroda - RTGS, NEFT, IMPS. Before proceeding, it's important to understand the differences between the 3 modes.
Step 2: Submit the Form at Your Branch
Mobile Banking ( BOB WORLD MOBILE APP )
Broadly there are 3 ways in which you can make electronic payment in Bank of Baroda - RTGS, NEFT, IMPS. Before proceeding, it's important to understand the differences between the 3 modes.
| Type of Transfer | NEFT | IMPS | RTGS |
| Speed of settlement | Half hourly | Real-Time | Real-Time |
| Maximum Transfer Value | No Limit | Rs. 2,00,000 | Rs. 5,00,000 |
| Minimum Transfer Value | No Limit | No Limit | Rs. 2,00,000 |
| Charges | Free up to Rs. 2 Lakhs. Rs. 25 per transaction of value above Rs. 2 Lakhs. | No Charges | Transfer amount bw Rs. 2 lakhs – 5 lakhs: Rs. 25 + GST from 8:00 am- 11:00 am. From 11:00 am to 1:00 pm, Rs. 27 per transaction + GST Rs. 30 per transaction + GST after 1:00 pm. |
| Timing | 24x7, 365 Days | 24x7, 365 Days | 8 am IST – 4.30 pm IST (On all working days for banks in India) |
RTGS/NEFT/IMPS Transfer with Bank of Baroda (BOB)
There are two ways to initiate an RTGS / NEFT/ IMPS transfer with Bank of Baroda:- Offline submission /In Branch Request (FOR RTGS/NEFT)
- Mobile Banking (FOR RTGS /NEFT /IMPS).
OFFLINE SUBMISSION /IN-BRANCH REQUEST
Step 1: Download and Complete the Form- Download the attached NEFT/RTGS form (in PDF format). This same form will be provided to you if you choose to initiate the transfer through an in-branch request.
- Print a clear copy of the downloaded form.
- Fill out the form completely and accurately. How to fill up the form is mentioned below
- Provide the BOB branch name, time of receipt, and date.
- Write down the sender’s account number of the base branch.
- Mention the account holder’s name (sender).
- Choose the transaction mode (RTGS) for RTGS transactions, NEFT for NEFT transactions and IMPS for IMPS Transactions
- Mention the beneficiary’s name followed by his/her bank name.
- Provide the receiver’s branch name and IFSC code.
- Write down the beneficiary’s account number.
- Tick the receiver’s bank account type like SB, NRE, CA, CC, OD, credit card, or remittance to Indo Nepal.
- Provide a message to the receiver.
- Mention the amount, exchange, and total amount in numeric.
- Write down the total transaction amount in words.
- Write down the receiver’s account number again (mandated by the RBI).
- Sign along with providing your phone number and PAN Card number.
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Step 2: Submit the Form at Your Branch
- Visit your nearest Bank of Baroda (BOB) branch.
- Submit the completed NEFT/RTGS form along with any required identification documents to a bank teller or customer service representative.
- Once your request is processed, the funds will be transferred to the beneficiary's account.
Mobile Banking ( BOB WORLD MOBILE APP )
- Download and login into the BOB World Mobile App
- Type in your PIN to access the app
- The home page appears, Click on the TRANSFER button
- Fund Transfer Page opens , click on the TRANSFER TO ACCOUNT option for fund transfer
- A warning will be shown , read it and then click on the ok button
- Choose the transaction mode (RTGS) for RTGS transactions, NEFT for NEFT transactions and IMPS for IMPS Transactions and then select the ADD/SELECT BENEFICIARY OPTION
- Click on the ADD button from the select beneficiary page
- Add all the details correctly
- Enter OTP and Enter Transaction PIN
- The beneficiary will be activated after 4 hours that means after adding the beneficiary, you can send money to them after 4 hours.
- Come back to the Transfer to account number page and select the beneficiary and amount details and click on the proceed button
- Enter Transaction PIN and Payment successful
Conclusion - When to use what ?
- For urgent, high-value transfers: Use RTGS if speed is critical and the amount is substantial. Be aware of minimum transfer limits and potential fees.
- For routine transfers and bill payments: NEFT is a convenient and cost-effective option for transfers within India, although it's not real-time.
- For small, urgent transfers: IMPS is ideal for immediate transfers of smaller amounts, even on holidays. Be mindful of potential maximum limits and fees.
